IICA, CMAI Ink MoU to strengthen India’s carbon markets

New Delhi: In a strategic move to bolster India’s carbon markets and accelerate decarbonisation, the Indian Institute of Corporate Affairs (IICA) and the Carbon Market Association of India (CMAI) have signed a Memorandum of Understanding (MoU). The agreement was announced on February 4 during the inaugural session of the IICA-CMAI Masterclass on Global & Indian Carbon Markets, attended by Union Minister for Road, Transport & Highways Nitin Gadkari.

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Addressing the gathering, Gadkari emphasized the critical role of biofuels and green hydrogen in India’s economic and environmental future. He highlighted key pilot projects in bio-bitumen, bio-aviation fuel, and bio-CNG, underscoring the government’s commitment to advancing clean energy solutions. He also shared his vision for reducing the cost of hydrogen to $1 per kg, positioning India as a potential global leader in green hydrogen exports.

The collaboration between IICA and CMAI aims to build capacity among industry professionals, policymakers, and academicians to navigate India’s evolving carbon markets. Under the MoU, both entities will collaborate on training programs, joint research, policy advocacy, and the organization of workshops and conferences. CMAI, as a leading industry association, will serve as the knowledge partner to IICA, a think tank under the Ministry of Corporate Affairs, to drive sustainable business initiatives.

Dr. Garima Dadhich, Head of the School of Business Environment at IICA, noted that the institution’s Certificate Programme in Decarbonisation would equip corporate professionals with expertise in carbon offset mechanisms and long-term decarbonisation strategies. CMAI President, Mr. Manish Dabkara, emphasized that the partnership would help create a robust ecosystem for carbon markets in India through research and industry engagement.

The event, held as part of India Climate Week, saw participation from over 70 professionals, including representatives from leading corporates, PSUs, governmental bodies, and international organizations. The masterclass featured case study discussions and expert insights, with subsequent sessions focusing on international carbon market trends.

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